Tue, Oct 07, 2025, 10:56:00
| Tran Tri Manh, chairman of the Board of Directors of VNPAY |
The award was jointly organised by the Institute for Policy and Strategy Research (Central Policy and Strategy Committee) and VnEconomy (Vietnam Economic Science Association). This annual event recognises entrepreneurs who have made remarkable contributions to Vietnam’s journey of innovation, integration, and sustainable development.
A representative of the Organising Committee said, "Tran Tri Manh has turned VNPAY into a leading fintech enterprise in Vietnam while inspiring others by showing how a Vietnamese entrepreneur can steadfastly pursue innovation while aligning business growth with national and community interests."
| Entrepreneur Tran Tri Manh (second from the right) among the other Top 10 Outstanding Vietnamese Entrepreneurs |
Nearly two decades ago, when Vietnam’s electronic payment infrastructure was still in its infancy, Manh chose a path few dared to take – developing digital payments. At that time, the concept of a 'bank on your phone' was still unfamiliar to most Vietnamese. Financial transactions primarily took place at bank counters, branches, or ATMs. Against that backdrop, Manh predicted an inevitable shift, saying mobile technology would fundamentally transform how people access banking services.
From that vision, VNPAY began collaborating with banks to build mobile banking platforms. Initially operating on simple SMS technology with limited functions, the service marked a new era – allowing customers to check balances, transfer money, or make payments directly from a basic mobile phone.
For users back then, it was an entirely new experience.
The first trials were not easy. Telecommunications infrastructure was limited, and user habits were undeveloped – many even distrusted the idea of 'sending money via text message'.
However, Manh remained steadfast in his belief that promoting digital banking should begin with the simplest, most familiar services. That persistence paid off – by around 2013, mobile banking had become a mainstream offering among major banks, laying the foundation for the sector’s digital transformation.
VNPAY became the first in Vietnam to integrate lifestyle services into mobile banking apps, transforming them from simple financial tools into multi-functional digital platforms. This innovation set off a new trend, helping Vietnam’s mobile banking not only catch up but surpass many regional peers in diversity and user experience.
The key distinction is that VNPAY didn’t follow the market – it led it. From a single app, customers could shop online, book flights, train or bus tickets, reserve hotels, buy movie tickets, order taxis, book golf sessions, pay bills, and more.
This innovation created a competitive advantage for domestic banks and set a new standard for mobile banking, positioning Vietnam among the pioneers of digital finance in Southeast Asia.
VNPAY was also the first in Vietnam to launch QR code payments online.
If mobile banking laid the foundation for Vietnam’s digital banking, QR code payments delivered the powerful push that brought digital transactions into everyday life.
From what once seemed like simple black-and-white squares, QR codes have transformed consumer behaviour. Today, pulling out cash at cafés or supermarkets has been replaced by a quick phone scan – a habit shaped by that bold innovation.
Currently, VNPAY’s network covers nearly 600,000 VNPAY-QR acceptance points nationwide, integrated into over 30 banking apps and 15 e-wallets, serving about 60 million regular customers. These figures clearly reflect the visionary leadership and strategic foresight behind that journey.
Beyond serving millions of end users, VNPAY also nurtures a larger ambition – to support Vietnamese businesses in their digital transformation journey. Under chairman Manh’s leadership, VNPAY has shaped a strategy to provide a comprehensive ecosystem of digital solutions that meet both operational needs and modern digital governance standards.
From VNPAY-Invoice (e-invoice), VNPAY-CA (digital signature), VNeDOC (electronic contracts) to payment gateway and VNPAY-PhonePOS, the company offers end-to-end tools that help businesses digitalise processes, reduce costs, and comply with government regulations. These solutions are particularly valuable for small- and medium-sized enterprises, where operational efficiency must align with transparency, safety, and cost-effectiveness.
A significant milestone was when VNPAY became the first company in Vietnam and the 26th worldwide to obtain the MPoC security certification – the latest international standard for mobile payments. Its VNPAY-PhonePOS solution turns a smartphone into a portable POS terminal, expanding cashless payments from micro-merchants to large enterprises.
By delivering integrated solutions across finance, management, and operations, VNPAY is accompanying Vietnamese businesses towards a modern, globally integrated digital economy.
A distinctive aspect of chairman Manh’s management philosophy is his focus on people. VNPAY’s corporate culture is built upon five core values: creativity, responsibility, dedication, sincerity, and integrity.
This model fosters an environment where employees are encouraged to explore ideas and push innovation. It is one of the key reasons VNPAY was an early adopter of cutting-edge technologies such as AI, big data, blockchain, and cloud computing.
Beyond business objectives, Manh’s strategy also ties VNPAY’s growth to social impact goals. The company has supported the government’s cashless payment initiatives, bringing financial services to remote and rural areas. At the same time, VNPAY participates in community and charity activities, reflecting a broader vision of the role that technology enterprises can play in society.
On the global stage, VNPAY is partnering with international payment organisations and technology partners, serving domestic users while bringing Vietnamese fintech solutions closer to global customers.
The Top 10 Outstanding Vietnamese Entrepreneurs 2025 award recognises Manh’s nearly two decades of work in technology and digital payments.
“VNPAY’s journey ahead is not just about building a business, but about contributing to and accompanying Vietnam’s digital transformation,” Manh said in a recent statement. The remark reflects his view that enterprise growth should align with the country’s broader development goals.
